Trump: Stephen Moore out as potential Fed nominee

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WASHINGTON — Embattled potential Federal Reserve Board nominee Stephen Moore has withdrawn from consideration for the position, President Trump said in a tweet on Thursday.

The announcement comes after several news reports that Moore would not back down from his anticipated nomination to serve on the Fed, despite growing concerns about his confirmation prospects from Republican senators.

Moore is the second candidate to have his potential Fed nomination scuttled in less than two weeks. Herman Cain, who once served as chairman of the Kansas City Fed, withdrew from consideration for a seat on the Fed board April 22, after four Republican senators publicly indicated that they would oppose his nomination.

Moore's potential nomination has been contentious after past statements in which he suggested it was a problem for the economy if women made more than men. His long history of such remarks prompted several GOP senators, including Sen. Joni Ernst, R-Iowa, to voice objections to the possible pick.

Moore himself has continued to claim his nomination was on track. As recently as early Thursday, he told media outlets he was "all-in" on the Fed nomination.

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